RHB Retail Research
Technical Analysis - Mega First Corporation
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Mega First Corporation formed a long white candle, indicating that the momentum of buying could be strong. As the 21-day SMA line is likely to begin turning upwards, this also implies a positive outlook. A bullish bias may emerge above the MYR3.60 level, with an exit set below the MYR3.42 threshold. To the upside, the immediate resistance is at MYR3.85. This is followed by the MYR4.00 level.
Source: RHB Securities Research - 14 Jun 2018
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